Royal Road Minerals Ltd (CVE:RYR) updated on its activities at the Nariño province in Colombia, one of the most prospective and under-explored regions in the Andes, where it says field operations are underway.
Last year, the firm struck a binding framework agreement with Economias Sociales del Comun (ECOMUN), a group established in the wake of the final peace agreement, between the Government of Colombia and the Revolutionary Armed Forces of Colombia People's Army (FARC-EP), inked in November 2016.
"As we close in on the first anniversary of our collaboration agreement with ECOMUN, we are pleased to see that field operations are underway, that the management structure is functioning and that the time invested in attaining social license at this early-stage of our exploration program appears finally to be paying off," said Tim Coughlin, Royal Road Minerals' president and CEO.
"It is our view and we believe it is generally well-accepted, that the exploration potential in Narino speaks for itself, the challenge is primarily on the social side and in order to secure our investment and ultimately realize full potential, we believe that is where our initial efforts must focus."
Royal Road is the largest application holder in Narino Province with some 350,000 hectares under concession contract application.
There are approximately 120 registered small producing gold mines, scores of unregistered informal occurrences and new deposits and mineralised camps being discovered by local miners on a regular basis along a 65-kilometer-long gold mineralised belt.
In general, Royal Road's current exploration is focused on reconnaissance exploration and drainage geochemical sampling for porphyry copper and gold targets and on joint-venture and acquisition opportunities for gold only targets, the firm said today.